SpiceJet enters into settlement agreement with aircraft lessor Goshawk Aviation

Budgetcarrier SpiceJet on Tuesday announced that it has entered into a settlement agreement with aircraft lessor Goshawk Aviation Limited and its affiliated leasing entities Wilmington Trust SP Services Dublin Limited Sabarmati Aviation Leasing Limited and Falgu Aviation Leasing Limited related to two Boeing 737 MAX aircraft and one Boeing 737800 NG aircraftGoshawk Aviation Limited is one of the main lessors of the MAX aircraft of SpiceJetThe settlement with Goshawk follows SpiceJets successful settlements with De Havilland Aircraft of Canada Limited Credit Suisse Boeing CDB Aviation BOC Aviation and AvolonThe settlement the airline said will allow the entry into service of two more fuelefficient Boeing 737 MAX aircraft into the SpiceJet fleetAlso readVideo of bodybuilder smoking in SpiceJet flight surfaces onlineThe parties have agreed to settle all their disputes under and related to the aircraft lease agreements for three aircraft The agreement the terms of which are confidential ends all litigation proceedings between the parties a statement saidAll proceedings including before the UK Court and Execution Proceedings before the Delhi High Court will be withdrawn accordingly the statement addedSeparately SpiceJet promoter Ajay Singh is reportedly mulling the possibility of a partial stake sale in the airline Singh currently reportedly holds a majority 60 per cent in the airline said the company continues to be in discussions with various investors to secure financingThe company continues to be in discussions with various investors to secure sustainable financing and will make appropriate disclosures in accordance with applicable regulations a SpiceJet spokesperson had recently saidFurther the lowcost carrier recently entered into a full and final settlement with the Airports Authority of India AAI and cleared all outstanding principal dues of the airport operatorSpiceJets ability to clear the pending dues reflects the airlines improved cash flow in recent timesHowever SpiceJet has been going through a highly turbulent phase in recent times on account of several glitches and a nonadherence to mandated guidelines in regard to the training of some pilotsIt all started in April 2022 when the aviation watchdog the Directorate General of Civil Aviation DGCA restrained 90 pilots of the airline from operating Boeing 737 Max aircraft after finding they were not properly trainedThose pilots were trained on a faulty simulator and the aviation regulator asked the airline to retrain the pilots besides slapping a fine of Rs 10 lakhMultiple incidents were reported this year when SpiceJet and other carriers aircraft either turned back to their originating station or continued landing at the destination with degraded safety marginsCivil aviation regulator DGCA had recently ordered SpiceJet to operate a maximum of 50 per cent of its flights for eight weeks after several of its planes reported technical malfunctionsUpon having reported repeated snags civil aviation regulator Director General of Directorate General of Civil Aviation DGCA Arun Kumar recently told ANI aircraft systems are reasonably robust and do have multiple redundancies but component failures do not imply that it is compromising the safety of the passengersThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever